₹ 14580 / 108 shares

IPO Details

RHP/DRHP

Issue Date

30 Jan - 1 Feb'24

Investment/lot

₹ 14580

Price Range

129 - 135

Lot Size

108

IPO Size

₹ 310.90 Cr

IPO Listing Details

Listing On

6 Feb'24

Issue Price

135

Listed Price

₹ 305

Retail Gain/Listing Gain

125.93%

Start date

End date

Allotment of bids

Refund Initiation

Listing on exchange

BLS E-Services Limited is a technology-enabled digital service provider, providing business correspondents the service to major banks in India, assisted E-services, and e-governance services at grassroots levels in India.

Through the company’s network, they provide access points for the delivery of essential public utility services, social welfare schemes, healthcare, financial, educational, agricultural and banking services for governments (G2C) and businesses (B2B) alike in addition to a host of B2C services to citizens in urban, semi-urban, rural and remote areas.

The company enables social and financial inclusion in India

Semi-urban, rural and remote communities are being connected with services and opportunities through digital and financial inclusion. Starting in 2006-07, the company’s Material Subsidiary, ZMPL was the first business correspondent in the history of the Indian banking system. The company provides various products and services in India through its BLS Touchpoints and BC network, including PoS services, ticketing services, assisted e-commerce services, etc. Its presence in the local market and community help the company connect with citizens easily giving them better access to social and financial inclusion and making it easy to establish trust and ensuring the sustainability of the business model (Source: CRISIL Report).

Multiple cross-selling and up-selling opportunities, network effect and wide reach for customer acquisition

The company brings together the advantages of G2C, B2B and B2C models within a single platform, providing many touch points for the consumer and back-end entities. This enhances the customer footfall by 4,04,153 consumers at their BLS Touchpoints and BLS stores and increases scalability. When coupled with their wide range of products and services, it results in multiple cross-selling and upselling opportunities, network effects and wide reach for customer acquisition.

Successful track record of acquisitions

The company has a history of acquiring businesses that complement its existing capabilities, revenue streams and marketing presence. For instance, the company acquired Zero Mass Private Limited in June 2022, Starfin India Private Limited in August 2018, and BLS Kendras Private Limited in October 2022.
  • The company undertakes fee and commission-based activities, and its financial performance may be adversely affected by any inability to generate income from such activities.

  • None of the e-governance projects are awarded to the company directly.

  • As a result of the company’s limited operating history, it may not be able to compete successfully, and it may be difficult to evaluate the business and future operating results based on past performance.

  • Strengthening and integrating its technology backbone.

  • Grow its merchants and BLS stores network.

  • Pursue strategic investments and acquisitions to enhance product and service capabilities.

Here are the key financials for BLS E-Services Limited:

Particulars (in Rs. million)

Particulars (in Rs. million)

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Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.

Here are the steps to apply for BLS E-Services Ltd IPO:

Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.

Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.

Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.

Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.

Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.

BLS E-Services Ltd IPO FAQs

BLS E-Services Ltd IPO will list on 2024-02-06.

310.90 is the issue size of BLS E-Services Ltd IPO.

The minimum lot size is 108 shares and the investment required is ₹14580.

The price band of BLS E-Services Ltd IPO is ₹129 to ₹135.

You can read more about BLS E-Services Ltd and its IPO from the company’s red herring prospectus (RHP) here.

The BLS E-Services Limited IPO has an issue size of Rs. 309.29 crores. The IPO opens for subscription on 30th January and closes on 1st February 2023.

KFin Technologies Limited is the registrar for this IPO.

You may read more about BLS E-Services Limited and its IPO from the company’s red herring prospectus (RHP) here

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